Telsey Advisory Group Reiterates “Market Perform” Rating for Foot Locker (NYSE:FL)

Foot Locker (NYSE:FL)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $24.00 target price on the athletic footwear retailer’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 37.74% from the company’s current price.

FL has been the topic of a number of other research reports. Needham & Company LLC dropped their price objective on Foot Locker from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Guggenheim dropped their price objective on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Piper Sandler dropped their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Morgan Stanley dropped their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Finally, Evercore ISI dropped their price objective on Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Stock Down 1.4 %

Shares of Foot Locker stock opened at $17.42 on Tuesday. The business’s fifty day moving average price is $20.34 and its two-hundred day moving average price is $23.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company has a market capitalization of $1.65 billion, a P/E ratio of -3.86, a PEG ratio of 0.53 and a beta of 1.48. Foot Locker has a 1-year low of $17.38 and a 1-year high of $34.99.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, research analysts forecast that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FL. Creative Planning grew its holdings in shares of Foot Locker by 42.1% during the third quarter. Creative Planning now owns 13,823 shares of the athletic footwear retailer’s stock valued at $357,000 after buying an additional 4,093 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Foot Locker by 537.0% during the third quarter. Blue Trust Inc. now owns 2,981 shares of the athletic footwear retailer’s stock valued at $74,000 after buying an additional 2,513 shares in the last quarter. Semanteon Capital Management LP purchased a new position in shares of Foot Locker during the third quarter valued at $488,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Foot Locker during the third quarter valued at $1,563,000. Finally, Chartwell Investment Partners LLC grew its holdings in shares of Foot Locker by 2.4% during the third quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after buying an additional 782 shares in the last quarter.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.